Natalie Cousens Managing Editor The Practical Accountancy Handbook

Take the lead and manage all your health and safety training needs today...
This simple training programme can save you lots of time, effort and money
Aren't you tired of having to arrange and prepare the sessions, especially since you don't always have a ready-to-use format?
Over 200 people are killed each year in accidents at work and over one million people are injured.
... ››› more

Can you spot the mistakes?
Get all the ammunition you need to beat the CCMA
Here's how to chair a legally compliant disciplinary enquiry in just five easy steps
Dear reader,
Can you spot the mistakes in this example?
Tracey is responsible for making sure the petty cash balances each day. She's never seen the petty cash policy and procedure but it's on... ››› more

Good news: You won't trigger CGT if you dispose of an asset in one of these ways...
Do these two things to guarantee your input tax claims?
Your employee just crashed the company car! Now what?
Dear reader,
Picture this... You buy property and start building an office. With two weeks to go to completion, you take out a loan and buy office equipment.
But yo... ››› more

The one health and safety tip that could save your company thousands this year
Draw up an asset management policy to control your company's PPE by including these seven rules
How to manage your company PPE
Dear reader,
Personal Protective Equipment (PPE) is expensive.
For a hard hat, you're looking at spending about R500 for one. Then you have to multi... ››› more

33 Tools to be an effective manager
8 Tips to reduce work stress
61 templates and contracts you'll ever need for your Personnel files
It's halfway through the year already, and I'm feeling tired and a bit stressed.
I know the minute this happens my productivity takes a dip.
I'm sure this happens to you and your employees too!
So, to help you and y... ››› more

Still struggling to grasp when you can claim input tax? Follow these six rules
Here's how input tax can boost your company's cash flow legally
You could be missing out on 19 input tax VAT savings...
Dear reader,
If you're still struggling to grasp when you can claim input tax, you're not alone.
Many VAT vendors battle.
While knowing you're n... ››› more

Five actions that DON'T warrant disciplinary action in the workplace
Warning: 1 out of 3 dismissals are deemed as 'unfair' by the CCMA!
10 Documents you need to prepare for a CCMA conciliation
It doesn't matter if you're right and have a watertight case... If you don't appear at the CCMA to defend your case, there's a very good chance the commissioner will rule in favour of the... ››› more

Good news: You won't trigger CGT if you dispose of an asset in one of these ways...
Three reasons why you need to analyse your financial statements
The five forbidden items you can't claim input tax on
Dear reader,
There are a lot of myths about provisional tax.
These often lead to taxpayers neglecting their tax duties, over-paying or worse, underpayin... ››› more

South Africa's premier ready-to-use training modules on the five MOST essential health and safety topics you MUST train your employees on...
Quick: Before disaster strikes, call your employees in for a toolbox talk to discuss these lightning safety precautions
Four points to discuss during your toolbox talk...
'Six construction workers killed by lightning!'
It sou... ››› more

The following in tax invoices will stand up to SARS' scrutiny
Are there any inaccuracies in your tax invoices?
If SARS asks you to sign this document... STOP! Put down that pen. You have the right to refuse
SARS is very strict when it comes to tax invoices.
For example, you must ensure certain details appear on your tax invoice and you must adhere to certain require... ››› more

Your employee stole a laptop from you. And you have all the proof you need. Pretty much an open and shut case. So you give him his notice to attend a disciplinary hearing, which says 'you stole from us' and hope the obvious ruling will be his dismissal.
But... You're wrong. You didn't get this one thing right...
**********************
Get all the ammunition you n... ››› more

When it comes to 'promoting a culture of health and safety' in the workplace, one of the most important aspects is to encourage employees to report incidents in the workplace.
Doing so will ensure that hazards and risks in the workplace are dealt with before they can affect someone else, which could put your business in a risky legal position.
To promote a culture of reporting incidents in ... ››› more

Here's what your employee needs to know about keeping an accurate logbook
Put a stop to all your company car and travel allowance headaches today
How you can save R26 983 with an accurate logbook
A vital part of managing your employees travel allowance is his logbook. This must accurately detail his travel expenses.
If his logbook isn't 100% accurate and up-to-... ››› more

So, you've employed an employee on a two-year contract. Unfortunately, you've lost a big client and now you have to retrench him, amongst other staff.
But can you? What does the law say about retrenching fixed-term employees?
Let's take a look...
Simplify your work and save thousands!
Now you don't have to scour the internet for hours or pay a labour ... ››› more

So, you've employed an employee on a two-year contract. Unfortunately, you've lost a big client and now you have to retrench him, amongst other staff.
But can you? What does the law say about retrenching fixed-term employees?
Let's take a look...
Simplify your work and save thousands!
Now you don't have to scour the internet for hours or pay a labour ... ››› more

'Dear Vongai, we've been audited by SARS for four tax periods in a row. What is the problem?'
You could unnecessarily trigger your own VAT audit
Avoid this one red flag SARS looks out for
Dear reader,
Have a look at this letter I received from Lucia, one of our Practical VAT Handbook Subscribers.
'We've been audited by SARS for four tax periods in a row. That's every tax... ››› more

Has SARS sent YOU a nasty penalty assessment because your provisional taxes were incorrect?
Use these seven steps to calculate your provisional tax correctly
Find detailed calculations and examples for these seven steps here With provisional tax, you estimate and pay your taxes in two payments in the financial year. It's one payment every six months, instead of having to pay one big amount at th... ››› more

So, you've employed an employee on a two-year contract. Unfortunately, you've lost a big client and now you have to retrench him, amongst other staff.
But can you? What does the law say about retrenching fixed-term employees?
Let's take a look...
Simplify your work and save thousands!
Now you don't have to scour the internet for hours or pay a labour consultant t... ››› more

Here's how you can be 100% sure your risk assessments are legally compliant...
Remember, you must do a risk assessment to be compliant with the OHS Act!
Do you know the difference between these three simple, but essential risk assessment terms: A danger, a hazard and a risk?
I know it sounds silly, but I recently attended a seminar on Risk Assessments and you wouldn't... ››› more

What do you do if you need to cancel an employee's leave?
Case law: Jardine vs Tongaat Huletts [2003] 7 BLLR 717 (LC)
Did you know that not forcing your employees to take their annual leave could end up costing you anything up to R15,000 per employee? The July school holidays aren't that far off. And along with the almost four weeks of schools being closed, comes the mountain of employee-leave i... ››› more

When your Health and Safety Representative suddenly resigns, you need to have a clear and detailed hand-over plan in place.
That way, your next elected Safety Representative knows exactly what's required of him. And the transition won't hurt your productivity.
Read on for seven essential elements to include in his Safety Rep hand-over plan...
**********Best buy**********
Fulfilling ... ››› more

The 31 August 2017 provisional tax (PVT) payment deadline is just around the corner. As you know you have to take the time to go through your calculations to make sure you're paying the right amount to avoid penalties from SARS.
If you missed our last article on how to calculate your provisional tax payment, have a look here.
All you need to do now is prepare your return to file by the 31st ... ››› more

There are talks about POPI coming into effect before the end of this year.
This means you have to make sure you comply with the Act NOW! If you don't comply, you'll face fines of up to R10 million and even jail time!
But where will you start?
Keep reading below to find out five basic rules... ***
How a third party getting hold of your employee's marital status could land YOU with a R... ››› more

Input tax is the VAT you pay your suppliers in the course of your business as well as VAT paid on goods you import.
SARS allows you to claim the input tax for your relevant tax period when you complete your VAT return. While this is the case, there are input tax claims you aren't allowed to make.
Read on below to find out what they are so you can comply with SARS and avoid penalties. Every... ››› more

Today I'm going to share a secret with you about the disposal of your assets.
All too often people dispose of their assets at the wrong time, which could lead to a 200% penalty from SARS.
Did you know you can avoid this from happening to you by simply taking note of the disposal timing rules?
Let me tell you about them...
*****
You have one Capital Gains Tax lifeline
It will give yo... ››› more

It's not just your health and safety officer who needs to pay attention when there's a medical expense or emergency in the office.
Picture this...
Winter is flu season and Star Consulting didn't want its 500 staff members to spend time off sick. So it hired a mobile clinic to come to the office and give its staff flu injections.
The clinic charged R50 per injection, so the total amount... ››› more

When it comes to a VAT dispute with SARS, do you know when you should pay, or if you should pay the disputed taxes at all?
You need to get this right, or you'll incur unnecessary penalties.
You can ask SARS to suspend your payment, with a payment suspension request. Let's look at an example. Example
Furniture Friend gets a VAT assessment for R84 000, including penalties and interest f... ››› more

Nothing causes more panic in a business owner than receiving a notice from SARS that your business is facing a VAT audit. But most of the panic comes from uncertainty of what to expect.
You may not even have done anything wrong, so don't worry.
Your VAT audit may have been triggered simply because your accountant entered a zero in the wrong spot on your VAT return. And having these nine docu... ››› more

As a business owner or shareholder, a popular way to invest is to hold or trade shares.
You hold shares to make money. Either you'll hang on to your shares for a while and reap the benefits in the form of capital growth and dividends. Or you'll look at selling short to take profits on the movement in share price.
The tax consequences hinge on whether the gains or losses you receive are of ... ››› more

I'm sure you'd like nothing more than to get a little something back for yourself instead of just spending a fortune on salary increases, bonus payouts, donations to charities, gifts for clients, etc.
Well, you can. And I'm going to show you how.
Here are four little tricks you can use to make sure you get something out of your good nature.
Let's see what they are... SARS is hungry for... ››› more

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